Frequently Asked Questions (FAQs)

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  • What is Online KYC?

    Online KYC or Electronic KYC is a procedure provided by Quantum Mutual Fund for KYC compliance that allows you to complete your KYC formalities completely online, without any paperwork whatsoever. KYC is now mandatory before investing in Mutual Funds. Online KYC is a simplified KYC for investments based on PAN and Bank Account no. details.

    Online KYC is an initiative of Quantum Mutual Fund that offers you a paperless KYC process. Online KYC eliminates issues faced by an Investor while doing their KYC, particularly Applicants / Investors residing in B15 cities and outside India while doing their IPV, since everything is now online.

  • What is the Online KYC process?
    Online KYC through Manual IPVOnline KYC Through Self IPV
    1.Visit our website (https://ekyc.quantumamc.com). Fill the standard KYC application form online and upload the scanned copy of required documents through the upload option provided in the Online KYC form.

    2. Our Customer Care team will then schedule an E-IPV i.e - face to face meeting with Applicant through WebEx via Desktop/Laptop.

    4. All the documents will be verified through the web IPV. Investor  has to sign on the declaration (which was triggered to investor’s Email ID) or has to write and sign on a blank paper with a blue pen has to show in the camera.  

    1. Visit our website (https://ekyc.quantumamc.com). Fill the standard KYC application form online and upload the required documents with the following options:


    • Upload the scan copy of supporting documents AND
    • Upload the documents through web cam option

    2. Post filling his personal and address details, investor will be automatically routed to a page where he has to show his signature in front of the camera and click its picture.

    3. He will then have to take his selfie in front of the camera.

    4. Investor will have to do a self IPV by recording himself in front of the camera. (This step will eradicate the earlier IPV process carried out by CR team)


    Note: Document upload in case of Resident individual is optional and for NRI’s the document upload is mandatory. There will be independent validation of supporting data. Quantum Mutual Fund reserves the right to ask for any additional document, if required further, to establish the applicant’s Proof of Identity and Proof of Address.

    Once EIPV, is successfully completed, Quantum team will enter the details of the Online KYC application in the (relevant) KRA POS for processing the EKYC application for KYC compliance. Below are the steps involved in the process:

    Details mentioned in the Application provided / uploaded during EIPV are checked and validated through authorized third party associates. In case if the details are not successfully validated, the same is communicated to the applicant.
    Post successful validation the Online KYC application data are entered in relevant KRA POS for processing of KYC. Post uploading the document on KRA site, it takes upto 30 days to get the KYC status updated with the KRA.
    If the details are not successfully validated or the images are not clear, the same is communicated to the applicant, and /or the KRA may ask for clarification, and / or reject the KYC application.
  • Who can do Online KYC?
    Only below mentioned categories of investors can do Online KYC:
    • Adult Resident Indian Individuals
    • Guardian in case of Minor investor
    • Non -Resident Indians and persons of Indian origin residing abroad, on a non-repatriable / full repatriation basis. Excluding investors residing in the US, Canada and non-compliant FATF Countries.

    Currently Non-Individuals & HUF applicants are not allowed to do Online KYC.
  • What are the documents required for completion of Online KYC process?

    The list of documents required to be scanned and uploaded for completing the Online KYC compliance process are as follows:

    Resident Individual

    1.Self Attested PAN Card Copy
    2.
    Self Attested Valid Proof of Address (Passport / Voter Id)

    Non Resident Individual

    1.Self Attested PAN Card Copy
    2.Self Attested copy of Passport
    3.Self Attested Proof of Address (Latest Bank Statement / Pass Book / Voter Id / Driving Licence not more than 3 months old
    4.Self - Attested Overseas Address Proof and attested by Authorized Attesting officials.
    Note:
    1. The NRI investors who are mariner can upload their CDC copy self-attested in absence of foreign address proof.
    2. Please note if there is a difference in “Address of Correspondence” & “Permanent Address” of the applicant, separate address proof needs to be submitted for “Permanent Address”.

  • When can I transact after doing my Online KYC with Quantum Mutual Fund?
    Presently you will be allowed to transact post successful validation of your KYC status in the KRA website.
  • Do I need to send the physically signed KYC form with supporting documents also separately, post submission of the Online KYC and uploading of supporting documents on Quantum’s website?
    No, you are not required to send any documents in physical form to us. It is a completely Paperless and Online electronic process!
  • What is Manual E-IPV?

    After submitting the KYC form online, the applicant will receive a call/ e-mail for E-IPV procedure. E-IPV is electronic In-Person Verification as mandated for KYC compliance. During the E-IPV process, we shall record the following:

    1.Applicant’s presence.
    2.Applicant’s Original PAN card wherein photo and signature of the applicant are clearly visible
    3.Original documents of the details mentioned in the form .
    4.In case of NRI’s, in addition to the above, the Original Passport and Original overseas address proof needs to be shown in the IPV process.
    5.Applicant's affirmation / confirmation (in verbal) is sought that the applicant indeed has filled up the online KYC form earlier as a declaration to validate the data filled/ uploaded by the applicant.
    6.Applicant needs to print and sign across a declaration form or write the same on plain paper with clear signature in non-black ink which needs to match as per the signature in the Pan Card.
  • What precautions should I take for PAN? Can I submit copy of PAN allotment letter instead of PAN card?
    The details of PAN should be written carefully on the application. Also the copy of PAN image uploaded should be clear. PAN allotment letter is not accepted instead of the PAN card.
  • How will I be informed of my KYC status?
    Once your KYC is registered with any KRA, you will receive a letter/email confirming the same. You can also visit the websites of any KRA and verify the status online.
  • Do I need to have the original documents while doing E-IPV? Is my physical presence necessary while doing E-IPV?
    Yes, you should have all the documents in original while doing E-IPV for verification. E-IPV is a process whereby the fund house verifies the applicant face-to-face online to confirm and verify the applicant physically as who submitted the online KYC. Physical verification of the original documents as well as the KYC applicant is mandatory as per regulation and hence the requirement.
  • Can I submit a modification request to change/update my details in existing KYC?
    Only an existing investor of Quantum Mutual Fund can submit a modification request to change/update your details in the existing KYC through Online KYC portal.
  • Are there any charges for doing an Online KYC through Quantum’s website?

    No, there are no charges for Online KYC through Quantum website.

    This is a completely new paperless initiative introduced for the first time in the Industry by Quantum Mutual Fund for our prospective investors.

  • Are there any restrictions on the size and format of the documents which I need to upload?
    No, there are no restrictions on the size and format of the documents to get uploaded.
  • What are the technical requirements that I need to ensure as an applicant to avail the Online KYC / E-IPV facility?
    1.A valid Email id (for “GotoWebinar” request to be sent to Applicant) , if not opting for self IPV.
    2.It is suggested to use a good quality of Camera (phone/laptop/webcam) to best avail the Online KYC/E-IPV facility. (We suggest you to use the most standard HD quality video conferencing webcams.)
    3.It is also suggested to have good Camera smartphone along with 3G Data plan or minimum of 512 Kbps Internet bandwidth while doing E-IPV process for KYC.
  • What are the advantages of Online KYC over Physical KYC?
    Completely paperless: The service is fully electronic, and document management has been eliminated.
    Inclusive: The fully paperless, electronic, low-cost aspects of Online KYC make it more inclusive, enabling financial inclusion.
    Low cost: Elimination of paper verification, movement, and storage reduces the cost of Online KYC Process.
    Faster: The service is based on electronic filling of data and E-IPV. Hence, it reduces a lot of the time and efforts taken in the physical process. Further the Self IPV option has been eliminated the process of manual eIPV wherein investor has to complete the IPV process through his web-ex session with our customer care team.